Online Gambling News the way they are!
   Web        OGpaper portal          
Online Gambling Industry Booming in Gibraltar

If you ask people all over the world if they know where Gibraltar is most people would look bemused and have absolutely no idea. For those people who do know where it is, they associate Gibraltar with an enormous rock at the bottom of Spain, where wild monkeys roam around pilfering tourists picnics.

In the past few years Gibraltar has been beginning to make a name for itself in the online gambling industry. There are over fifteen online gambling companies based in Gibraltar and many of these are listed on the London Stock Market. The online gambling industry there employs over 1,800 people which is more than twelve percent of its entire workforce. This figure is quite astounding when you consider that the total population is around 27,000 and the gross area of Gibraltar is only 2.5 square miles or 6.5 square kilometers.

Gibraltar is an overseas territory of the United Kingdom located on the Iberian Peninsula where Spain and Morocco almost touch, at the Western most point of the Mediterranean. The area is usually in the news because Spain requests the return of the sovereignty but almost all Gibraltarians wish to remain under the rule of the United Kingdom.

British betting operators began the online gambling business in Gibraltar in 1989 when a couple of sports betting operators opened offices in Gibraltar and began taking wagers over the telephone. It soon proved to be popular as these online gambling operators offered much lower taxes on the winnings than any other book makers operating out of the United Kingdom. From these modest beginnings, this huge industry was built.

Freddie Ballester a spokesperson for the territory's Betting and Gaming Association referred to Gibraltar as a "minute speck on the globe, but when it comes to online gambling, Gibraltar is more than likely one of the most important jurisdictions in the online gambling world".

As the online gambling industry continues to expand in Gibraltar, workers are migrating from other regions and countries for jobs in the online gambling area. It is estimated a 75% of online gambling workers have attempted to move to Gibraltar for jobs in this booming region.

The CEO of one of the online gambling industry's largest operators commented on the appeal of Gibraltar. He said that "the Gibraltar government wants to keep the online gambling industry here and that makes things very attractive, so I can't see the online gambling industry moving from here at any time in the future". He added that the "government sees the benefits and the needs of the business and the tax situation means that more can be returned to the share holders".

With this current agreeable situation the online gambling industry can only go from strength to strength. Customers are always on the look out for the most conducive conditions for gaming and the Gibraltarian arm of the industry is more than happy with the positive reaction they have been getting from government and gamers alike.

German Japanese French




Copyright 2005 © . All rights reserved.